Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Recommendation of “Moderate Buy” by Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.41.

A number of analysts have weighed in on NVTS shares. Rosenblatt Securities decreased their price target on Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group reissued a “hold” rating and set a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, May 10th.

Navitas Semiconductor Price Performance

NVTS stock opened at $3.79 on Thursday. Navitas Semiconductor has a 1 year low of $3.54 and a 1 year high of $11.16. The company has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $5.88. The stock has a market cap of $679.36 million, a price-to-earnings ratio of -7.43 and a beta of 2.52.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The company had revenue of $26.06 million for the quarter, compared to analyst estimates of $25.68 million. On average, equities research analysts anticipate that Navitas Semiconductor will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the completion of the transaction, the chief operating officer now directly owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,429 shares of company stock valued at $352,459. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of NVTS. State Board of Administration of Florida Retirement System raised its position in shares of Navitas Semiconductor by 7.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock valued at $217,000 after buying an additional 2,250 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after purchasing an additional 2,258 shares in the last quarter. Laidlaw Wealth Management LLC increased its position in shares of Navitas Semiconductor by 16.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after purchasing an additional 2,618 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Navitas Semiconductor by 23.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after buying an additional 3,052 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Navitas Semiconductor by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after buying an additional 4,533 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.